Multi Timeframe Analysis on ACCELYA
The chart above says it all.
Daily TF Analysis :- If you look at daily TF you will find this stock made a high of 1530-1540 last year, then it fell down.
This year in November 2nd week it broke out that level and right now it is retesting that previous resistance level.
From price action point of view this is a good entry point.
Hourly TF Analysis :- in hourly time frame a good support can be seen forming, right now the RSI is also at 23 (Highly Oversold).
15 Minute TF Analysis :- in M15 the RSI value is at 21, indicating oversold condition in this timeframe also.
Conclusion :- this stock can be a good candidate for swing as well as positional trading.
For swing trade Entry would be - 1530, SL - 1480, Target - 1670 (Risk : Reward = 1 : 2.8).
Disclaimer - Do your own research before taking any Trades.
Daily TF Analysis :- If you look at daily TF you will find this stock made a high of 1530-1540 last year, then it fell down.
This year in November 2nd week it broke out that level and right now it is retesting that previous resistance level.
From price action point of view this is a good entry point.
Hourly TF Analysis :- in hourly time frame a good support can be seen forming, right now the RSI is also at 23 (Highly Oversold).
15 Minute TF Analysis :- in M15 the RSI value is at 21, indicating oversold condition in this timeframe also.
Conclusion :- this stock can be a good candidate for swing as well as positional trading.
For swing trade Entry would be - 1530, SL - 1480, Target - 1670 (Risk : Reward = 1 : 2.8).
Disclaimer - Do your own research before taking any Trades.
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